Continuing our updates on Privacy Risk and Readiness Management
Despite the massive impacts of the pandemic on the world around us, the pace of Privacy and Compliance continues unabated.
By way of background, the New York Department of Financial Services’ Cybersecurity Requirements for Financial Services Companies (“DFS’s Cybersecurity Regulation”) first took effect on March 1, 2017.
On July 22, 2020, the New York Department of Financial Services announced cybersecurity charges against First American Title Insurance Company. The charges allege the exposing millions of documents with consumers’ nonpublic personal information over the course of several years, including bank account numbers, mortgage and tax records, Social Security Numbers, wire transaction receipts, and drivers’ license images.
This is the first cybersecurity enforcement action by the Department.
The hearing will take place at the office of the New York State Department of Financial Services beginning on October 26, 2020.